The Great Expansion: The way DeFi captures the future of the financial world

DeFi is crypto

To understand why DeFi has captured the imagination of the entire crypto landscape is to understand that it is less about the outrageous returns offered to yield farmers and more about the future possibilities it presents.

Bitcoin and/or DeFi

“Bitcoin as money” still works like money insofar as it still relies on a financial ecosystem around it to keep it alive. But that ecosystem is somewhat limited; it consists of those that secure the network on which transactions are transmitted (miners and node operators), wallets, and exchanges where it can be exchanged for other digital and, increasingly, fiat assets.

DeFi captures the imagination of the crypto world

Our banking system is as broken as our COVID-19 response was, but can DeFi actually replace it? The DeFi subsector’s most vocal critics would point to the emergence of food-meme protocols SushiSwap, Cream and Yam, along with many others, to suggest the movement resembles more of a circus than a legitimate threat to a giant financial services sector.

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